AT&T - A Potential Breakout Play in the Making ..Perhaps #telecom is bottoming after all? $VZ $T $IYZ
Telecom
October 19 Earnings: Verizon Communications: Recovery TimeThe company has been under immense pressure overcoming spectrum crunch and stiff competition in a saturated market.
Verizon's purchase of Yahoo!'s services will allow the company to boost its online offerings and penetrate a new market.
The company's new prepaid offering will aid revenue streams as well.
Weaknesses in the company is impact from Hurricane season with decreased services output.
A further weakness is the still saturated market with stiff competition forcing lower prices.
I believe the company's turnaround phase is in full effect and the company should report a solid beat.
I'm starting Verizon with a $52.50 PT for the post-earnings move.
Bharti Airtel - Rectangle bottom patternBharti Airtel testing the rectangle resistance line @ 380 where a lot of supply is currently visible in the rectangle bottom pattern formation
A cup n handle formation within the horizontal rectangle Bottom pattern is visible.
A Close above this resistance line would signify an upward breakout. High volumes expected.
Trading strategy :
Buy above 382
Target price : 420
Stop loss 363
Happy trading.
TI - SHORTi see some technical reasons to short this stocks.
Risk is to short to defensive companies as telecoms.
